Final Project: Product

Our companies’ product will be called Dynamite. I want to make an original named beer that will be able to attract customers. “New product development: The development of original products, product improvements, product modifications, and new brands through the firm’s own product-development efforts.” (Marketing An Introduction Armstrong/Kotler Chapter 8 Pg. 5) We don’t want our project to fail for this product that will be our main goal. “Why do so many new products fail? There are several reasons. Although an idea may be good, the company may overestimate market size. The actual product may be poorly designed. Or it might be incorrectly positioned, launched at the wrong time, priced too high, or poorly advertised.”(Marketing An Introduction Armstrong/Kotler Chapter Pg. 6) As I explained before will be a beer that is made of brown color bottles. We want the best taste for our beer so we decided to go with the brown bottle packaging. The brown bottle packaging prevents the sunlight from going into the beer and prevents it from making the beer taste sour. Plus we are depending on our product to produce the experience of blasting flavor. We plan on doing this by adding more flavors to the beer and only a little bit of alcohol. When we start our company we want to give out samples to our employees, this how involved we want them to be. “New-product development starts with idea generation—the systematic search for new-product ideas.” (Marketing An Introduction Armstrong/Kotler Chapter 8 Pg.7) We want to make sure that we are giving our customers the experienced we promised instead of saying a lot of stuff and not meaning it. We want our company to thrive on our product not go down because of it. So hopefully if everything works out we will be able to produce our product with the best flavors in beer and our customers will love it.

Final Project: Target Market Strategy

For our company we will consider these factors for our target market strategy. We will not just consider who is our target market; but how and what. “Thus, in target marketing, the issue is not really who is targeted but rather how and for what.” (Marketing An Introduction Armstrong/Kotler Chapter 6 Pg. 34) Our target market is people who like the experience of a party in a club or just at their home who can enjoy a drink that is flavorful, but still has a little alcohol. How we will deliver this is that we will provide our drinks at club and at convenience stores and mostly likely partner up with Lee’s Liquor. We don’t want our alcohol to not look cheap, but we want our customers to be able to afford it especially in this economy. What is by hiring employees among the age groups and so they can tell people about our alcohol, we want to gain our customers trust and in order to do that we must treat our employees with the most respect, so that in return they will tell their friends that we care about our employees and so that maybe if we listen to our employees our beer will only get better, so that our customers will enjoy our delicious beer. Also with our market strategy we will also make a competitive advantage."Competitive Advantage: An advantage over competitors gained by offering greater customer value, either through lower prices or by providing more benefits that justify higher prices.” (Marketing An Introduction Armstrong/Kotler Chapter 6 Pg. 37) The competitive advantage is that we will have our beer available in clubs, convenience stores, and Lee’s Liquor, also since we are hiring people that we are targeting we will get the best ideas and opinions from minds that we need to hear from and as soon as we get customers we will also listen to their comments and ideas so we can combine both. In conclusion this will be our target market strategy.

Final Project: Objectives

The objectives for our company would be defining our market-oriented mission. What is our business? Who is our customer?  What do consumers value? What should our business be? Our business is to give our age related customers an experience with our product Dynamite. Our customers are people who range from twenty-one to thirty. Our consumers will value the experience and the flavor our beer. Our business should be a business that cares about customer relationship and employee relationship so we don’t have any distrust. I want our company to be like a family that is concerned about what our customers want and what they value and that their opinions matter to us. Our next objective would be our business portfolio. “Business portfolio- The collection of businesses and products that make up the company.” (Marketing An Introduction Armstrong/Kotler Chapter 2 Pg. 9) We would begin portfolio by an analysis. “Portfolio analysis-The process by which management evaluates the products and businesses that make up the company.” (Marketing An Introduction Armstrong/Kotler Chapter 2 Pg. 10) Our next objective would be to develop strategies for growth. “Beyond evaluating current businesses, designing the business portfolio involves finding businesses and products the company should consider in the future. Companies need growth if they are to compete more effectively, satisfy their stakeholders, and attract top talent.” (Marketing An Introduction Armstrong/Kotler Chapter 2 Pg. 13) Beyond this we must go into strategies for our teams and how product will be produced, what we will include in our products and if we are going to go beyond making beer, and how will we get it to people (through clubs?) and how will we create the experience for our customers. Also how will we serve our employees and what will be there tasks. There is a lot to consider for our objectives.

Final Project: Mission Statement

My mission statement is going to talk about my product and what it’s moral/ethic position, public image, target market, products/services, the geographic domain, and expectations of growth and profitability. The product Dynamite moral/ethic position is a choice the people can make whether or not to drink this product. The company will help with this by building trust with the customers and our employees. The public image that Dynamite will be able to produce is that it is a drink for college students to drink for the flavor and a little bit of alcohol. The company that makes the products/services will make many products for Dynamite representing different flavors. The services that the company will offer to its employees and customers are different. For our employees we want to give the service of giving free samples for employees and willing to hear their ideas for new products. For our customers we want to give them the experience we want to create with this drink and we will also be willing to hear their ideas on our website; we want to make sure our customers are satisfied. “Customer satisfaction: The extent to which a product’s perceived performance matches a buyer’s expectations.” (Marketing An Introduction Armstrong/Kotler Chapter 1, Pg. 20)The company’s geographic domain will start in Los Angeles; I think that is where we could possibly do the best in and we would consider working with other companies."Marketers can’t create customer value and build customer relationships by themselves. They must work closely with other company departments and with partners outside the firm.”( Marketing An Introduction Armstrong/Kotler Chapter 1 Pg. 28) Expectations of growth and profitability will be for our company to move from Los Angeles to other cities as well and hopefully with enough profit we will be able to move to our dream which would be New York.

SWOT analysis

Our company has strengths, weakness, opportunities and threats just like every other company. Our company strengths are that we want to create an original idea for our product. Our product possibly has the strength to have customers enjoy the experience for the value our beer. As I have said before we want to create a beer that has a lot of flavor, but still has a little bit of alcohol. Our product as I have said before we will call Dynamite, which I think is original, because it will represent how much flavor we are putting in the beer and it will stand for how it explodes with flavor. Our company’s weakness is possibly that we are a small business that is starting out in a bad economy, but as long as our customers value our experience that we give then we will most likely do well. I think that our opportunities are that we are a company that values both our customers and our employees. Our company wants our employees to get involved with our product because we want to make sure that we are delivering on that Dynamite flavor in the beer. We do not want to promise something we don’t deliver; I wouldn’t want our company to be like that. We want our customers to trust our brand so our employees will be the same age range as our customers so we can get the best advice about what is going out there.  Our threats are other companies’ that serve beers just like ours and already have customer value and have their trust.  These companies’ have built something that we want and what we must achieve for. Our most important threat is our customers; their value will either destroy us or help us grow. In conclusion, we have these strengths, weakness, opportunities and threats we must face and achieve as a company.

EOC Week 9: Three great mission statements

In my personal opinion I believe that my favorite three missions’ statements have to go to Bowman, Derrick and Ernie. I think Bowman did a fantastic job on his mission statement. He goes into explanation how his beer (Nature Blend Brewing Company) isn’t about how the beer is made but the experience that comes with it. Also I love Bowman’s quote on his page I think that it is inspirational and I think that is a fantastic way to tackle this on. Which we have been learning throughout this entire class is that the customer is most important. I think that Derrick did a fantastic job in just delivering a fast short but explainable mission statement. His drink (Shotz) describes how he wants people to enjoy it everywhere which I think is different which is why I found it good. Also he didn’t want his customers to think that they were drinking the typical juice drink. Which I think it is important for everyone on this project to invent something different for them. I think that Ernie also did a fantastic job on his mission statement. His product or business Finish Line IPA explains how people could tell the difference between a real beers and how their beer will be made with Northwest ingredients.  Also I think it is great how Ernie talks about influencing others with his beer and how his company will focus on the customer side. Like I said before I think that is everyone’s focus on this project is the customer. It only seems like a few of us that considered their employees for this project. Which is fine, I mean we can only make our money based on the value that the customer has with our brand, which is why we want our separate brands to be so successful, so good job everyone!

EOC Week 8: Creative Content for project

The creative content for my project well be very simple. I just want to make a simple website for the product. In this website I want to talk about many different subjects. For instance, I want to talk about how the beer is made. For example, I want to talk into detail about how it is so flavorful and still packs alcohol. Another instance is that I want to talk about how great this beer is even though it has not been around a long time, in fact it is very new, but hopefully I will give people the urge to try my product. For example, I have many competitors out there that make flavorful beer and the market keeps growing with more flavors that are added or mixed to together in drinks. I will talk about the competitors in my analysis and I would like to discuss how my beer is better than those out there, because my company values our customers and our employees. We want our beer to be presentable but not too expensive. The creative content for the decorating of my logo I will try to create a brand new logo to really represent Dynamite. The creative content for my packaging I am not so sure about. For creative content research I think I will look up more about how beer is made with flavors and how it is represented graphically. I know that everyone does it different, but I just want some basic ideas that I could go off from so I can come up with my own idea for my own beer. That is all I really want to do for the creative content is to create something original, instead of creating something that everyone sees every day. Especially towards the group I am going towards, it gets boring.